New research from Naoris Protocol has revealed that IT Directors at major global corporations are significantly increasing quantum computing budgets in anticipation of transformative industry impacts.
The post-quantum infrastructure firm’s findings show that 84% of IT directors expect quantum computing to have either a “huge” (29%) or “big” (55%) impact on their industries within five years, with only 16% predicting minimal effects.
Th global study – surveying IT leadership at organisations with minimum annual revenues of $300 million across the US, UK, EU, and APAC regions – found near-universal quantum technology adoption, with 99% of respondents already allocating budget to quantum solutions.
Notably, 41% are currently investing 10% or more of their technology budgets in this emerging field, with this number set to rise to 85% of organisations within the next five years.
How will quantum be used?
The research found that nearly half (48%) of IT directors strongly agree that the future of quantum computing lies in its potential integration with other emerging technologies such as blockchain, AI and advanced machine learning. The other 52% slightly agree with the view.
Further, 85% of IT directors expect increased collaboration over the next three years among academic institutions, technology companies and government research labs to address technological hurdles. A quarter (25%) predict dramatic increases in collaboration.
Around three-quarters (76%) expect the quantum computing market will be worth $65 billion or more within seven years compared with its $8.6 billion value at the end of last year.
The key driver for growth, according to the study, is the expansion in industrial applications for quantum computing with multiple industries finding transformative applications.
More investment in research and development by major firms including IBM, Google, Microsoft and Amazon is the second biggest factor in growth of quantum computing ahead of government and academic support and funding.
David Carvalho, CEO & Founder at Naoris Protocol said: “Major companies worldwide are focusing on the potential challenges and opportunities from the development of Quantum computing as demonstrated by the planned growth in their budgets.
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“There are clearly risks to cybersecurity but there is a growing awareness of the technological developments already underway such as integration with blockchain which can help mitigate the risks and enable firms to benefit from the opportunities.
“Decentralised trusted AI infrastructure will be central to that as it ensures AI trustworthiness, removes single points of failure and maintains data integrity.”
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